HRM Report: Marriott's HR Life Cycle, Retention, and Performance

This report provides a comprehensive analysis of Human Resource Management (HRM) practices within Marriott, a prominent player in the global travel and tourism industry. It begins by defining HRM and its critical role in enhancing productivity and profitability. The report delves into the application of revenue management principles, examining pricing strategies and product distribution channels. It then explores various revenue management tools, including Property Management Systems (PMS), booking engines, channel managers, and rate shoppers. The report further examines the stages of the HR life cycle at Marriott, focusing on recruitment, motivation, education, evaluation, and celebration, and their impact on employee retention and development. A performance management plan is designed, encompassing planning, monitoring, reviewing, and improvement. Finally, the report highlights key aspects of travel and tourism legislation, including the Data Protection Act, emphasizing their influence on decision-making and business operations. The report aims to provide insights into how Marriott manages its human assets to achieve competitive advantages and sustainable growth in the dynamic travel and tourism market.

INTTRODUCTION
Human resource mangement can be defined as handling thehuman assets in an organization so that
productivity and profitability ca be raised at a large scale. Every small and large and organization carries
out HRM in their working premises. It plays a vital role in the growth and success of the businessin the
cut throat competituve world. This report is based on Marriott which is serving it’s services across the
globe. This the fastest growing travel and tourism industry in UK. This assignmment is based on various
stages of HR life cyacle and how they help in reatining talet in the firm. Also, a management paln is
designed so that staff retention problems can be resolved. However, several legislation realed to travel
and tourism is discussed so that goodwill can be raised in the eyes of the customer. Additionally,
throwlight on how, employment an contract law affect the decision making process in travel and
tourism. Moreover discuss budget in order to control firm performance and to discover variances.
P1) Discuss rational and principles of revenue management for travel and tourism industry.
Reveue mangement can be defined as the appliciantions by which consumer behaviour can be studied
at the micro level and product avialbility and prices are designed acordingly.It assist the administartion
to grow and flourish in the global market. This palys a viatl role in travel ad tourism sector as this helps
to maximize huge profit in the cut thraot competituve world.
Human resource mangement is the corre tassk which need to be carried out effectively in an
organization.it can be sated as the process of recuriting, traning, developing, providing compensation,
hiring, firing etc. are manged by HRM deaprtment of the administartion. By doing so workforce
management of the enterprise can be improved. Due to which profitability and productivity can be
raised on continious basis in the ct thraot competitive vworld. The rational and principles of revenue
mangement for travel and tourism industry are discussed are as follows:
The revenue mangement is divided ino three parts which are vdiscussed as follows:
Pricing: The prces of the product vare discussed according to the market sceanrio in the global market.
As per the needs and deamd of the customers prics of the product and services are designed so that
hugecustomer base for the services can bev raised accordingly. This dirrectly or indirecly raisse the
revenue mangement of Marriott atta large sacle . Affordable prices of the services attarct huge potentail
customers du eto which profit can be maximized.
Product distribution: The demand of the product raises when firm come up with innovative product in
the cut thraott competitive world. Marroitt adopts effective product distribution cahnels in order to
meet the emerging neds of the customers. It also, increases the revenue mangement process in the
company due to which det goals are meet on time. Effective product distribution cahnnel aid the
prganization to upgrade the goodwill in the eyes of the customers in the competituve world. By doing so
the competituve advantages can be achieved against arvalry. Also, touf satdards can be craeted in the
same market palce.

Revenue mangeemnt helps the oragnization to grow and flourish in the glaobl market and helps to
genaerate huge profit in the intance market.this palys a sgnifiacnt role in attaning set standards
formualted.
P2) Reach out paricualr sector of travel and tourism industry and apply revenue mangement tools .
Revenue mangement can be exaplined applicaitions of discplined anlytics which assist the firm to
predict consumeer behaviour in the external macro envoronment. By doing so prices oofv the product
or services are designed accordingly in the internaional market. Revenue mangeemnt tools helps the
firm to achieve the sett objective in the set timew frame. It is very necesasry to carry out this in the
enterprise as it dirrectly or indirectly assist the business assocautes to survive for longer time period in
the competttve world. There are various revenue mangement tools which are discussed as follows:
PMS (PROPRTY MANGEMENT SYSTEM): Marriott adopts this revenue mangeemnt tools in their
working premises so that effective results can be acieved accordinglly. By doing positivve image is
careted in the customer eyes so that hugge proofit can be raised. In tshi case reception palys a vital role
in it. As this is the palce where client vist and interecrion take palce. By effectivel handling the proprty
mangementt system directly or indirrectly incaerses the sales ratio in the cut throat competitive wold.
However, administration si ale to meet the set standards in the set time frame.
Booking engine: This is another revenue mangement tool which helps Marriottt to accomplis set
goals.Customers are provided 24 hour booking facilities in travel and tourism industry. By which more
and more potentail customers are pulled towards the services. By doing so market value can be raissed
in the eyes of the csutomers. The facilities of online booking has incaersed the number of travellers for
the services . Which is a positive sign for the oragnization in the competitive world. Advancement in
booking engine has rased the market value of the buwsiness concern in the neck to neck competition.
Channel manger: It is also a part of revenue mangement tool in the cut tharot competitive world. By
running the bsuiness effectively proper fubctioning of channel of manger si must. This helps in
accomplishing set objectuves in the set time frame. In oder to increase the sales volumen in the cut
tharot competitive wold cahnnel of manger need to work effectively and efficiently. They play a
significcant role in reatining skilled and potential customers. Effective cahnnel of manger need to
adopted in the working pemises soa that emerging needs off the csutomers can be fulfilled respectively.
Rate shopper: in this case Marriott comapre the existing prices of the compitiors in the real term. By
doing tactics can be farmed res[rctively and huge markt ratio can be achieved accodingly. The prices are
caomprred on the basis of distinguisged reservaton cahnnels anf room type prevaling in the amrkt.
Organization can comapre the prices of the compitiors by using yieldplanet price shopper. It directly or
indirectlyy affect the sales volume and workforce efficiency in the neck to neck competition. Also, by
using tshis revenue mangement tool employees are motivated to perform better in order to decraese
the swirching eate of customers to other brand.
P3) Review several stages of human resouurce life cycle applicable to travel and tourism as well as study
importance of retaning and developinig talent.

Human resource(HR) life cycle or employee life cycle can be stated as stages of huaman assets in a
particualar bsuiness associates and the shifting roles in distingusiheed satgs are studied briefly. In an
organization each and every has their own huamn resource life cycle. As well as their own challeges
benefitts, drawbacks and opportunities which dirrectly or indirectly help the staff members to grow in
their carrer. Also, benefit the oragization in raising the productivity and profiatbility in the neck to neck
competition. In case of tarvel and tourism the huamn resource life caycle palys a viatal role. This is a
continious processs carried out in the every organization. Here, employees rae benefited by the human
resource life cycle as it enrich the skiils of the workers which directly or indirectly assist in their carrer
growth. The satages of humann resource life cycle of marriott are understood as follows:
Recuritment: Oragnization hiring or recuriting right nominee for the vacant palce directly uplift the
workforce efficiency in the cut throat competitive world. Marriott hires or recurit staff members from
both internal and external recuritment process. By doing best and qualified candiate is choosen for the
vacant job profile. This huamn resource life cyacle motive the existing employees to work effectively
and efficiently in order to meet the desired goals objectives on time. In context to tarvel and tourism
right applicant choosen for the vacany leads to rasie in sales volume of the customers. By dong so
profitability ratio incaersed at a large sacle. Also indirectly it asssit the bsuiness assoacites to reatin the
employees bac in the oragnization . so that productivity and workforce perfomnce uplift on continious
basis. It plays a significant role in order to grow and develop the business gloablly.
Motivation: Marriott conduct various motivation techiques to retain the potential, capable and qualified
staff members in the oragnization.as well as provide several simanrs for workers in order to encourage
the employees to perform better in the competiive market place. Mptivation act as a tonic which
directly upgrades the overall perforamce of the satff workers in the cut tharoat competitive world. It si
another part of Huamn rsource life cycle. Inn travel and tourism industry motivation is the key to
success. Timely encoraging the workers assist to accomplish the desirrd objectives in the market palce.
Education: organizaton tarin and educate their potenatil staff members to reatinn back in the firm. Also,
enrich the existing talent and skills by eduacting them reagrdin their job profile and structure. In order
to grow the business of travel and tourism in the neck to neck competition employees og the buxsiness
assocaitesss need to be educates in every deaprtament so that best outcomecan be received. Marriot
contribute some of the profits in educating the workers which raises the firm’s market value in the
intance competition. As a part og human resource life cycle it directly assist in upgarding the carrer
growth of the stafff members.
Evluation: in order to attain best results in the set time frame evaluation is needed in the open market.
Marriot examine market scenario so that straetegies can be formualtted accordingly in the cut throat
competitive world. By doing so capable and potentail employees can be reatined for lonfer time period
in the open amrket. Timely examining the performance in travel and tourism sector the cahnces of error
can be eliminated and required improvements can be done respectuvely. As a part of huamn resource
life cycle it directly aid in growth og the business at a wider level.

Celebartion: Human resource life cycle has their own challenges, opportubitues, advantages etc. which
enrich the carrer growth rate of employees at a rapid scle. In case of travel andd tourism whe the
employees are persinal and firm goals are achieved then clebration si done. Due to which productivity
and proftability volume raises tremendous scale. Marriptt provide incentive to iy;s workers for better
performance. All this helps to reatin and develop talent for longer time period in the markey place.
P4) Design a performance management plan.
Performance mangement paln is designed so that set objectives can be achieved and competitive
advantahees can be atatined in the open market. Marriott performance mangement plan is expaliined
as follows:
Planning: Effective planning helps the firm to atatin desired golas in the open market. Marriott design
plan by deeply examing the market scenario so that resut resultts can be achieved. Ineffective palnning
laeds to unproductive outcomes in the market .
Monitoring: when the planning is done later on evaluation si done so that error can be eliminated.
Marriot examine the blueprint on continious basis so that improvements can be done in the initial stage
and productivity level does not get affected at a large scle. B doing potentail customers emerging needs,
deamds and prreferences can be fullfilled respectively.
Revewing: this the another part of performance mangement plan in which continious bassi monitoring is
done on the plan. This is done so that competitive advantages can be accomplishhed in the market
place. Marioot does revewing while formulating the performace mangement plan so that sales volume
can be incraesed and huge profits can be maximized.
Improvemet: This is the most important part of performance mangement plan in the competitive world.
In orderv to create tough competition continious improvement is imporatnt. Marriott keep eye on the
functions of the business and accordingly modify the plan in order to attain best results.
P5)Throwlight on travel and tourism legislation
The various legisation of travel and tourism are discussed as follows:
Data protection act: Here, the information of employees are safeguarded so atht illegal misuse can be
avoided in the market.Travel and tourism insustry need assure it’s pottentila customers that their
information are no illegal misused soathat trust and faith can be build for the firm.
Anti-discrimination act: This act is mandatory to be acrried out in the organization so that capable staff
members can be raetined for longer time period . In travel and tourism industry any kind of favourtisi
does not take palce. And every employees are traeted equally irrespective of caste, religion, traditions,
language, sex, relegion etc.
Safety nad security act: Travel and tourism adopt this act so that potentail employees can be assured
that they are safe and secure in the working premises. They are not violted as well as expolitatio is not

done at any cost. By adopting this act goodwill regarding the adminisatration can be raised in the eyes of
the customer. Which directly laeds to upgarde in profits at a larrge scale.
P6) Discuss employment and contract law with examples
The employment and contarct law aew exaplined as follows:
Employment act: According to this act employees are provided with all the fundamental rights while
working in the oragnization. The violation of laws can laed t huge penalities and charges in the cut
thraot competitive world. Due to which market value of the travel and tourism can be decresed
gradually in the open market. In order to raise the profitability and productivit y employment act need
to be adopted on priority level in the intannce global market. Examples: x employees is working in A
company in UK and according to employment act without any soild proof staff member can not be fired
out of the administartion.
Contract act:In this both the parties are agreed on the term and conditions in the market. Organization
agrees on the whatever mentioned in the contarct act and accordingly work is assigned. Travel and
tourism need to adopt this act so that misunderstanding and chaos does not occur in the business
associates. It act as a baridge between employees and employer so that smooth functioning of
thebuiness opeartions can be acrried out easily. Example: Y staff memberis working in UK top
multiinationl company.As per the conatrct act Y employee can leave the coampny after two yaers at any
time without notice.
P7)Explore various types of financil statements
Profit and loss account: In this case all the profits and expenses are shown in this profit and loss
statement. By doing so organization gets a rough iea reagarding the amount of casg flow carrued out in
the adminisatrtion in the cut tharoat acompetituve world. It directly helps the firm to farme the
satrtegies accordingly so atht tough competition can be created in the open market.
Cash flow` statement: This helps the tarvel and tourism firm to examine the baalnce sheet account and
income satement affect on cas and cash equivalent. By doing so enterprise can accordingly exqond the
business in the global market. It is the essenatil task which need to carred out in the competituve world
so that effective use of funds can be done.
P8) Importnace of budget in order to control business performance.
Budgets palys a critcal role in the growth and developme nt of the adminisatrtion in the global market.
Availability of sufficient funds helps the company to exapndd their business across the globe easily.
Money is the backbone of every administarion in the intance competition. Insufficent funds creates
various problem and buiness opartions are intrepreted frequently. Also, set objectves are not meet on
time which is a negative sign for the enterprisse. Funds can be collected from several sources such as,
banks, family, overdraft, etc. in order to control buiness performance effectively. Lack buget hamper
the adminisatrion worlforce peerformance garetly. Due to which market value graduallyy in the market
and at one point buisness come to an end . Travel and tourism gathered funds from investors and by

ssuing shares in the amrket which are secure in nature and easily assessable. By collecting money from
the resources huge cash amount can be accumulated in the cut thraot competitive world.However, this
cash gathered can be used for longer time period and improvvement in business operations can be done
accordinglly.
CONCLUSION
From the above it can be concluded that HRM plays a critical role in the growth of the travel and tourisn
industry. N organization HRM help to retain capable and skilled employees in the fir for longer time
duartion. Management paln is designed so that huge market ratio can be captured in the competituve
world. Varios legislation laws are studied so that smooth functioning of the business can be carried out
without government interferance. HR liffe cycle stges is studied so that best out comes can bee
achieved. Also, budget and finical satment importancce are studied so that better deciiion can be taken.
As well as importance of budget and how they affect the buiness performance is focused so that
gathering of funds can bee done in the initial satge and tough competitors can be craeted for other
businesses.
References